Basis and Holding Period for Stock Received As a Gift in 2024 with Successful Portfolios LLC.

Here’s how to report on your tax return the cost basis and holding period for appreciated stock you sold and that you had acquired as a gift (not inheritance):

1. “What if I sell property that has been given to me?  The general rule is that your basis in the property is the same as the basis of the donor. “   IRS.GOV LINK

2. “If you receive a gift of property … your holding period is considered to have started on the same day the donor’s holding period started.”  IRS.GOV LINK

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